House prices up 10.6% despite slowdown fears

The average cost of a new house in Ireland rose by 10.6% over the last year, it emerged today.

A new home in Dublin rose by 8.3% despite forecasts of a slowdown in the property market.

Second-hand house prices increased by 12.5% in the capital and by 11.9% nationally, official figures revealed.

Minister of State Noel Ahern released the numbers as he published the Housing Statistics Bulletin for the third quarter of 2005.

He said a total of 3,819 social houses were completed by local authorities and the voluntary and co-operative housing sector – an increase of 10.6% over the same period in 2004 – with a further 9,837 units in progress at the end of September.

“I am also pleased to see that the supply of affordable houses has increased, with 1,843 units provided under the various affordable housing schemes in the first nine months of 2005,” he said.

“Eight hundred and fifty social and affordable housing units were provided under Part V, Planning and Development Acts 2000/04 – a substantial rate of increase on the corresponding period in 2004 when 181 units were provided.

“These figures demonstrate the increasing contribution of Part V to social and affordable housing.”

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